Individual Retirement Accounts (IRA’s)
Effective as of February 23, 2012
CTCU offers three IRAs to choose from:
Traditional IRA
Allowed to contribute $5,500 per year. If over 50 years of age, your limits increase to $6,500. Cannot exceed compensation. Reduces contributions that can be made to Roth IRAs.
Roth IRA
Allowed to contribute $5,500 per year. If over 50 years of age, your limits increase to $6,500. Cannot exceed compensation. Reduces contributions that can be made to Traditional IRAs.
Coverdell ESA (Educational)
Allowed to contribute $2,000 per child each year. Limit applies to all Coverdell Education Savings Accounts (ESA) for same child.
1.00% APY**
**Annual Percentage Yield
*1.00% Dividend Rate
If you have any questions, please call us at 903-561-2603 or 1-877-662-2828.
*Rates could change at any time.
*Minimum deposit of $20.00 is required to open an IRA.
*Dividends are compounded quarterly.
*Minimum balance of $100.00 is required to earn dividends.
Fees could reduce the earnings on the account.